Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Injection Pen Market by Product Type (Disposable, Reusable Pens), Therapy (Diabetes (Insulin, GLP-1), Growth Hormone, Osteoporosis, Fertility, Autoimmune disease, Cancer), End User (Hospitals, Clinics, Home Care), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, at a CAGR of 7.2%
Growing prevalence of chronic diseases, increasing number of regulatory approvals, favourable reimbursement and government support, and technological advancements in injection pens tend to drive the market.
Though the market is growing, but factors like alternative drug delivery modes, poor reimbursement scenarios in developing regions and needle anxiety tend to restrain the market growth. Whereas, needle-stick injuries & misuse of injection pens tend to pose a challenge for the market. But, the opportunities for the market lie in the patent expiry of biologics and emerging markets.
Based on product, the disposable injection pen segment holds the largest share during the forecast period.
Based on type, the injection pens market is segmented into reusable and disposable injection pens. In 2020, the disposable injection pens segment accounted for the largest share of the global injection pens market. The large share of the disposable injection pens segment can be attributed to their ease of use and the presence of a built-in cartridge which eliminates the need for manually loading the cartridge, making it more convenient for patients with reduced dexterity or visual impairments.
Based on therapy, the diabetes segment holds the highest growth rate during the forecast period.
Based on therapy, the injection pens market is segmented into diabetes, growth hormone therapy, fertility, osteoporosis, autoimmune diseases, cancer, and other therapies. In 2020, the diabetes segment accounted for the largest share of the injection pens market.
The large share of this segment is attributed to the high prevalence of diabetes, increasing awareness about insulin pens among diabetic patients, the rising geriatric population, increased patient support programs by companies & government for diabetes, and the growing availability of insulin pens in the market.
Based on diabetes therapy, the in GLP-1 segment holds the highest growth rate during the forecast period.
Based on type of diabetes therapy, the injection pens market for diabetes therapy is segmented into insulin and GLP-1. In 2020, the GLP-1 segment accounted for the highest growth rate of the injection pens market for diabetes therapy. The growth in the market can be attributed to the higher efficiency of GLP-1 to reduce the blood sugar levels.
Based on end user, the home-care settings segment holds the highest growth rate during the forecast period.
Based on end users, the injection pens market is segmented into home care settings and hospitals & clinics. In 2020, the home care settings segment accounted for the highest growth of the injection pens market. The growing geriatric population, ease of drug administration, increasing prevalence of chronic diseases, technological advancements, and favorable reimbursement scenarios are some of the key factors driving the growth rate of the home care settings market.
Asia Pacific is expected to grow at the highest rate in 2020
Asia Pacific is expected to grow at the highest rate in the forecast year. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries in the APAC are the major factors driving the growth of the injection pen market in this region.
The global injection pens market is dominated by Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi S.A. (France), and Novartis AG (Switzerland).
These players accounted for 70-78% of the injection pens market in 2020. These players adopted major growth strategies such as product launches, approvals, and expansions.
Other prominent players in this market include Ypsomed AG (Switzerland), Merck KGaA (Germany), AstraZeneca plc (UK), F. Hoffman-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (US), Owen Mumford Ltd. (UK), and Pfizer Inc. (US).
Growing Prevalence of Chronic Diseases to Drive Market Growth
Diabetes Segment Accounted for the Largest Share of the Asia-Pacific Injection Pens Market in 2020
China to Register the Highest Growth Rate in the Injection Pens Market During the Forecast Period
North America Will Continue to Dominate the Global Injection Pens Market in 2026
Developing Markets to Register Higher Growth During the Forecast Period
Growing Prevalence of Chronic Diseases
Increasing Number of Regulatory Approvals
Favorable Reimbursement and Government Support
Technological Advancements in Injection Pens
Preference for Alternative Drug Delivery Modes
Poor Reimbursement Scenario in Developing Countries
Patent Expiry of Biologics to Drive the Demand for Biosimilars
Growth Opportunities in Emerging Markets
Needlestick Injuries and Misuse of Injection Pens
US Fda: Medical Device Classification
US: Medical Device Regulatory Approval Process
Canada: Medical Device Regulatory Approval Process
Canada: Class Ii Medical Device Approval Process
Europe: Ce Approval Process for Class Iia Medical Devices
Patent Publication Trends for Injection Pens
Patent Publication Trends (January 2011-September 2021)
Insights: Jurisdiction and Top Applicant Analysis
Top Applicants and Owners (Companies/Institutes) for Injection Pen Patents (January 2011-September 2021)
Top Applicant Countries/Regions for Injection Pen Patents (January 2011-September 2021)
Dose Setting and Needle Actuation
Pen Injector Material
In-Built Dose and Time Log
Smart Caps and Attachments
Injector Temperature Monitoring
Becton, Dickinson and Company
Bespak Europe Ltd.
Companion Medical, Inc.
Eli Lilly and Company
F. Hoffmann-La Roche Ltd.
Jiangsu Delfu Medical Device Co. Ltd.
Nemera France Sas
Novo Nordisk A/S
Shaily Engineering Plastics Ltd.
SHL Medical Ag
Sun Pharmaceutical Industries Ltd.
Ypsomed Holding Ag
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